1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
djyliett [7]
3 years ago
13

The minimum feasible​ long-run average cost for firms in a perfectly competitive industry is ​$27 per unit. If every firm in the

industry currently is producing an output consistent with a​ long-run equilibrium, calculate the marginal cost incurred by each firm and the market price. Marginal cost is ​$nothing and market price is ​$nothing. ​(Enter your responses as whole​ numbers.)
Business
1 answer:
Furkat [3]3 years ago
5 0

Answer: Marginal cost is ​$27 and market price is ​$27

Explanation:

In the long run, perfectly competitive industries make zero economic profit. This means therefore that Average cost will be the same as the Market price so Market price will be $27.

Firms in a perfectly competitive industry will produce at a rate where Marginal revenue will equal marginal cost in order to maximise profit.

In a perfectly competitive industry, firms are price takers which means that the Market price is also the same as the Marginal revenue. The Market price will therefore be equal to marginal cost which means that Marginal cost will also be $27.

You might be interested in
Sectoral shifts, frictional unemployment, and job searches Suppose the world price of steel falls substantially. The demand for
TEA [102]

Answer:

fall

rise

frictional

b. Improving a widely used job-search website so that it matches workers to job vacancies more effectively

Explanation:

A fall in the price of steel would reduce the profitability of producing steel for steel producing companies. Hence, the supply of steel would fall. as a result, less labour would be needed, so the demand for labour would fall.

A fall in the price of steel would reduce the cost of producing cars and thus increase the production of cars. as a result, more labour would be employed to make cars.

Frictional unemployment is when labour is unemployed between the time he leaves his current employment and time he finds another. by improving on the job search website, workers would be matched faster with available jobs, this frictional unemployment would decrease.

7 0
3 years ago
The managers at Movo Automobile Inc. want to diversify their business by acquiring a consumer electronics company. This acquisit
quester [9]

Answer:

C.principal-agent problems.

Explanation:

The acquisition of Movo Automobile is a typical example of AGENCY COST. Under the Agency cost theory, managers are agents of shareholders who represents principal in the principal - agent problem.

Agency cost is a situation where agents become selfish and pursue strategies and policies that will promote the self interest of agents and cause dissatisfaction to principals.

4 0
3 years ago
Popular magazines and internet sources often use _____ to display information, which tends to confuse rather than clarify inform
zhuklara [117]
The appropriate response is pictorial graph. A pictograph utilizes picture images to pass on the importance of measurable data. Pictographs ought to be utilized painstakingly on the grounds that the diagrams may, either incidentally or intentionally, distort the information. This is the reason a diagram ought to be outwardly precise.
5 0
3 years ago
Why did the assembly line make goods less expensive to buy?
Dafna1 [17]
Goods were able to be produced faster and more efficiently.
8 0
3 years ago
Ozone (O3) is a gas in the earth's atmosphere. How do you know that ozone is covalently bonded and not ionically bonded?
garik1379 [7]

Answer:

The answer is below

Explanation:

A covalent bond is a type of chemical bond that occurs as a result of the sharing of electron pairs between atoms. Covalent bonds are usually formed between non metallic atoms with similar electronegativity. St room temperature, covalent bond exist as either a liquid or a gas. Example of covalent bonds are ozone (O3), water (H2O) etc.

Ozone is said to be covalent bonded because their is a sharing of electrons among the covalent atoms.

5 0
3 years ago
Other questions:
  • 1. Read the following scenario and answer the question in 5-10 sentences.
    10·1 answer
  • On December 1, Year 1, Jack’s Snow Removal Company received $6,000 of cash in advance from a customer and promised to provide se
    13·1 answer
  • Which of the following factors will make the demand for a product relatively elastic? rev: 05_14_2018 Multiple Choice Purchases
    8·1 answer
  • JRE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,200,000. JRE2 recognizes revenue upon contract c
    11·1 answer
  • When are monopolies good?
    14·2 answers
  • TCost-908 Car Mechanic Inc. uses a job-order costing system. The company applies all of its overhead costs to jobs using a prede
    12·1 answer
  • Wizard Corp. needs to take out a one-year bank loan of $600,000 and has been offered loan terms by two different banks. One bank
    9·1 answer
  • How can you get your money back if you send a p2p payment to the wrong person?.
    12·1 answer
  • The ability to attract and manage _________may be the most important skill a strategic leader must have.
    6·1 answer
  • What is the price of a coupon bond that has annual coupon payments of $75, a face value of $1000, interest rate of 5%, and a mat
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!